Non-admitted insurance: Prohibited. The share of foreign capital in a Russian insurance company cannot exceed 49%.

Premium tax paid by insured: Unknown

Regulator: The insurance industry is regulated by the Federal Service for Insurance Supervision, under the Ministry of Finance.

Overview: Russia has been hit very hard by the financial crisis; the government has injected trillions of roubles into the banking sector. As a result the rouble has fallen sharply in value and it could end the year with a 40% depreciation.

Overall risk rating: high